30 Jul 2008, Victoria Pennington, Operational Risk & Regulation
LONDON – Continuing its clampdown on market abuse, the UK Financial Services Authority arrested eight people yesterday and executed search warrants across London and the south-east of England in connection with an ongoing investigation into insider dealing rings.
No further information was provided by the FSA, but UK newspapers have indicated the eight people are all men aged between 27 and 48. They are being questioned at a police station but have not yet been charged.
Some 40 FSA staff were involved in the operation, assisted by City of London police. This is the latest development in the FSA’s continued enforcement against market abuse in the City.